EasyJet

FTSE Russell adds Easyjet and Ithaca Energy to the FTSE 100 and removes Entain and Persimmon. The changes take effect at the market open on 21 September. The FTSE 100 is adjusted automatically according to the market-capitalization ranking (inclusion from rank 90, removal from rank 111). » Plus sur finanzen.net

Key steps in Apollo’s takeover of Easyjet are being pushed back by up to six weeks: the offer documents are now expected in mid-October instead of early September, and the shareholder vote is likely to take place in or around the week beginning 9 November. Apollo values Easyjet at about £5.7 billion (roughly €6.5 billion). The parties cite the need for deeper coordination with relevant competition, investment and aviation regulators in several countries and possible reviews at EU level. » Plus sur wiwo.de

Documents on the planned takeover of Easyjet by US investor Apollo show the deal envisages up to £4.8 billion of debt. Higher leverage could increase pressure on returns and cash flow, prompting Apollo to cut unprofitable routes and capacity more aggressively for profitability, which could particularly affect weaker connections in Germany. At the same time, more debt would limit financial room for fleet modernization. Fleet expansion and growth of the travel business under Easyjet Holidays are still planned, but completion depends on regulatory approvals. » Plus sur wiwo.de